Gref said that the crisis has made life more colorful and interesting

The HEAD of Sberbank believes that the current economic situation motivates people and companies and highlights both their strengths and weaknesses.The end of the crisis will come imperceptiblyGerman Gref

There are no signs of the end of the crisis yet, because "the end always comes unnoticed," said German Gref, chairman of the board of Sberbank, at the Finopolis forum of innovative financial technologies, RBC correspondent reports.

“Therefore, in the crisis that has happened, we still do not realize all the losses that we have suffered,” he continued.

Gref noted that now people have "the motivation to live, work, create and think," based on conditioned reflexes. “Life has become brighter, more colorful and more interesting. it seems that in the coming years it will be even more interesting,” concluded the head of Sberbank. And the crisis, in his opinion, revealed both the strengths and weaknesses of people and organizations.

The head of the Central Bank, Elvira Nabiullina, also said at Finopolis that it is too early to talk about the approach to the end of the crisis.

The Ministry of Economic Development in September improved the forecast for Russia's GDP. According to new estimates, the economy will contract by 2.9% this year, by 0.8% in 2023, and by 2.6% in 2024. The World Bank has a more pessimistic forecast: a fall of 4.5% this year, a 3.5% next year, and an increase of 1.6% in 2024.

Economists have named the similarities and differences between the covid and sanctions crises Economics

At the Valdai forum at the end of October, President Vladimir Putin , citing Russian experts, said that the country had already passed the peak of sanctions difficulties and, on the whole, had adapted to the new conditions. The Russian authorities have repeatedly declared the stability of the Russian economy and emphasized that sanctions will harm, first of all, the countries that impose them.

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